A strong 7.7% gain in home prices lifted the markets to a higher open with the Dow rising 28 points to 15,038. Nasdaq gained 15 points to 3672.
On the upside
Qihoo 360 Technology (NYSE: QIHU) reported sharply higher second quarter earnings that more than quadrupled to surpass analyst expectations by a wide margin.
Citigroup initiated coverage of 3D Systems (NYSE: DDD) with a Buy rating and a $60 price target.
On the downside
A Seeking Alpha article said that Nuverra Environmental Solutions (NYSE: NES) had the potential to lose 80% of its value in the next year and would likely file for bankruptcy.
Merrill Lynch downgraded Tyson Foods (NYSE: TSN) from a Buy rating to a Neutral rating.
Rigel Pharmaceuticals (Nasdaq: RIGL) will no longer develop R343 to treat allergic asthma after the inhaled SYK inhibitor failed a Phase 2 clinical trial.
In the broad market, advancing issues outpaced decliners by a margin of nearly 5 to 4 on the NYSE and by 10 to 9 on Nasdaq. The broader S&P 500 added 4 points to 1667.
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